I know it's an alpha and clearly nowhere near complete, but I agree, it looked pretty grim.
Hate the white-outline around all friendly players, can imagine it removing any sense of emersion. The HUD seems very cluttered, even without the "4 VS 2" spamming the screen. Also there seemed to be absolutely zero recoil on any of the guns? Not keen on the obvious outline/highlight on the grenades when they get thrown, and healing other players... after they are shot point-blank with an assault rifle. The wallhack iPad thing is naff and the little remote camera thing seem OP, i.e. capable of driving up stairs. Also what's the weird effect they have on enemy fire, it's like the bullets leave a vapor trail... they've also got the 'you are being shot from over there' indicators, which I don't think belong in a CQB. Hard to tell from the stream but the audio didn't seem great, especially when the dev didn't hear the guy walking up along side him when he was stood still.
Looks too arcadey and despite them playing on PC's, it looked console'ish.
Here's a video for anyone that missed the stream...
https://www.youtube.com/watch?v=20Xn5Kg5LBw